The average house price in Glasgow has increased.
House prices increased by 1.8% – more than the average forThe rise contributes to the longer-term trend, which has seen property prices in the area grow by 10.7% over the last year.
Over the month, the picture was different to that across Scotland, where prices increased 1.1%, and Glasgow was above the 1.2% rise for the UK as a whole. The highest annual growth in the region was in Na h-Eileanan Siar, where property prices increased on average by 24.6%, to £160,000. At the other end of the scale, properties in Inverclyde lost 0.1% of their value, giving an average price of £113,000.
"However, we’re starting to see small changes in the market, which are likely to mean weaker growth in the coming months, especially if interest rates are hiked in August."First-time buyers in Glasgow spent an average of £151,000 on their property – £14,000 more than a year ago, and £43,000 more than in May 2017.
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